Current trend

The EUR/USD pair moves sideways around the level of 1.1346, correcting after the growth in the previous two trading sessions, which led to the renewal of local highs of February 11 due to positive macroeconomic statistics.

For December, the volume of industrial production of the EU countries rose by 1.2%, which allowed the annual rate to enter the growth zone and reach 1.6%. Earlier, the Q4 EU economy grew by 0.3% MoM and 4.6% YoY, in line with analysts' price-based expectations. It is worth noting the increase in the February index of economic sentiment in Germany to 54.3 points from 51.7 points a month earlier. Today, the European Central Bank (ECB) will publish its monthly report, which may positively impact the dynamics of the euro.

The USD Index is at the level reached at the week's beginning, around 96.000. Investors are reacting to the minutes of the January meeting of the US Federal Reserve, published yesterday. The majority of the regulator's representatives are set for a faster increase in interest rates than previously thought. At the same time, some department members had expected a natural decline in inflation in January, and the increase to 7.5% came as a surprise to them. It raises big questions among experts about the viability of the US Federal Reserve to resist further growth in the indicator.

Support and resistance

The asset is moving within a wide sideways range. Technical indicators are in a state of uncertainty: indicator Alligator's EMA fluctuations range narrowed almost completely, and the histogram of the AO oscillator forms downward bars, approaching the transition level.

Resistance levels: 1.1480, 1.1690.

Support levels: 1.1279, 1.1116.